Corcentric Partners with Market Intelligence Leader Beroe to Boost the Effectiveness of Supplier Risk & Compliance Efforts
CHERRY HILL, NJ, APRIL 27, 2021 — Corcentric, a leading provider of business spend management and revenue management software and services, today announced a strategic partnership with industry-leading supplier risk and compliance provider, Beroe.
The integration of Beroe Know Your Supplier (KYS) with the Corcentric Platform offers Corcentric customers an essential and unique opportunity to easily link supplier profiles with leading third-party risk data providers by removing the need to strike individual agreements. Beroe’s KYS provides Corcentric Supplier Management customers information from the leading providers of supplier risk data including financial, reputational, sustainability, and cyber risk information.
Over the last twelve plus months, organizations have been increasingly concerned about supply chain disruption. The lack of insight in supply chains is accentuated by the volume of supplier data and tying them back to risk. Poor supplier management processes and data infrastructures have traditionally made unifying supplier profiles with third-party data in areas like financial, reputational, sustainability, and cyber-risk too tedious and expensive.
“The inability to effectively link third-party supplier risk data to wider supplier management efforts puts a massive strain on supplier risk mitigation and compliance assessments efforts,” said Sean Regan, Senior Vice President of Global Alliances at Corcentric. “We are truly excited about this program with Beroe. This offering adds tremendous value to our customers for solving the supplier data collection challenge and truly gives them a competitive advantage in the ability to mitigate supplier risk and improve compliance.”
Accessed as an application within the Corcentric Supplier Management solution, organizations can now easily extend visibility by gearing up or down the number of suppliers and data sources they subscribe to within the Beroe KYS application.
“Companies are only as good as their supply chains, yet unfortunately these are vulnerable to disruption and unforeseen risks when suppliers are not effectively monitored. Beroe’s and Corcentric’s partnership further strengthens our efforts in enabling organizations to create a more resilient supplier risk program,” said Vel Dhinagaravel, founder and CEO of Beroe.
Corcentric analyzed the market in the third-party risk space in looking for a technology partner. Beroe’s complimentary offering serves as a true extension of Corcentric’s supplier risk and compliance management solutions. The integration comes on the heels of Corcentric’s expanded global partnership program, as the company continues to demonstrate flexibility to sourcing and procurement leaders looking for new, rapid, and innovative ways of enriching their supplier risk and wider supplier management efforts on a leading source-to-pay platform.
Beroe is the world’s leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits, and reduced risk. Beroe has been providing these services for more than 15 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies. To learn more about Beroe Inc, please visit https://www.beroeinc.com
Corcentric is a leading global provider of payments, procurement, accounts payable, and accounts receivable solutions to enterprise and middle-market companies. Corcentric delivers software, advisory services, and payments focused on reducing costs, optimizing working capital, and unlocking revenue. To learn more, please visit corcentric.com.